Attention Deadbeats: Pay Your Loans

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To your loan sharks! The Post did a little investigative journalism this weekend and while I don't buy the name "Benny the Loan Shark," I do buy that he and his kind are in a bind. According to BLS, a lot of his clients, including "bankers and investment brokers who have gambling problems and cocaine addictions who lost their jobs," are having some difficulty paying back the money they borrowed. While he's yet to resort to the tactics of bigger lenders, who are taking bats to heads and tire-irons to knee caps, he is going to have to start collecting collateral-- jewelry, wedding bands, necklaces, family heirlooms, now invaluable Bear and Lehman swag (and in the next couple weeks, Goldman chotckes*).
Tandra, a mid-level money lender, decided, instead of being all loan-sharky, and boosting lending rates while credit is tight, to lower interest rates by 50 percent, in an attempt to all to drum up more business during tough times (for people in need of cash). He also offered this little bit of advice for the industry that, while perhaps a bit late, can be revisited next time various individuals mull over the idea of fucking shit up beyond belief: "Wall Street should take a lesson from me, I never lend what I can't afford to lose - and I lose very little." Charlie Gasparino will have new insights on this (fluid) story before noon.
While we wait, I'm guessing at least half of you have personal experience with this sort of thing. Feel free to share at this time.
$lumping The $hark [NYP]
*Get over yourselves, I'm just keeping you on your toes.

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